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Self write offs of unrealized export bills

An exporter who has not been able to realize the outstanding export dues despite best efforts, may either self-write-off or approach the AD, who had handled the relevant shipping documents, with appropriate supporting documentary evidence. The limits prescribed for write-offs of unrealized export bills are as under: Self-write-off by an e...

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Posted Under: DGFT |

DGFT & CBIC: The ugly face of corrupt practices–5th Story

In respect of the exports, the Parliament has laid down that the task of the DGFT is to facilitate exports. The same applies to the CBIC because the local taxes cannot be exported therefore there is no responsibility of the collection of the taxes associated with the exports, but the responsibility is to administer the […]...

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Posted Under: DGFT |

DGFT & CBIC: The ugly face of corrupt practices –4th story

The Udyog Bhawan & the North Block houses the elite policymakers & probably the best of the IAS & the IRS (because in any efficient system, the merit should rise to the top & be entrusted with policy making task) but then when you find the best in the country indulging into a con game […]...

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Posted Under: DGFT |

DGFT & CBIC: The ugly face of corrupt practice- 3rd Story

When you are in the position of power, it is very easy to abuse the authority. On the other hand, it is very difficult for an authority to find courage to accept a mistake & say sorry. This is truer of the Indian bureaucracy than anywhere else in the world because there is no responsibility […]...

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Posted Under: DGFT |

Service Exports from India Scheme (SEIS) An Incentive Scheme for Service Exports

Objective As per Foreign Trade Policy of India 2015-2020, Service Providers of Notified Services, located in India, shall be rewarded under SEIS, subject to conditions as may be notified. Objective of Service Exports from India Scheme (SEIS) is to encourage and maximize export of notified Services from India. Eligibility: Para 3.08 of FTP...

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Posted Under: DGFT |

DGFT & CBIC: The ugly face of corrupt practices—2nd story

It is very difficult to understand the motivations of the bureaucracy in pretending that they do not understand even the very basics & the system valuing those bureaucrats in increasing the inefficiency in the system. My understanding is that for these reasons, the stooges rise to the top & they have no fear in their […]...

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Posted Under: DGFT |

Advance Authorisation Scheme- FAQs

Advance Authorization (earlier known as Advance License) is input duties neutralization scheme under the Foreign Trade Policy (‘FTP’) intended to reduce working capital requirements for exporters. Advance Authorisation is issued to allow duty free import of input, which is physically incorporated in export product (making normal allow...

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Posted Under: DGFT |

DGFT & CBIC: The ugly face of corrupt practices

There cannot be absolutely no quarrel with the fact that the DGFT is mandated to be the authority to facilitate the exporters. Therefore, it is really very surprising that why the DGFT should create stumbling blocks in the smooth implementation of the legal provisions contained in the FTP/HBP.  I am really very startled by the […]...

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Posted Under: DGFT |

Provision Of Status Holder – Under Foreign Trade Policy

Chapter 3 of the FTP 2015-20  contains the provision of Status Holder. Status Holders are business leaders who have excelled in international trade and have successfully contributed to country’s foreign trade. Status Holders are expected to not only contribute towards India’s exports but also provide guidance and handholding to new e...

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Posted Under: DGFT |

EPCG Scheme – Complete Analysis

EPCG Scheme is a very Beneficial Export Promotion Scheme through which Capital Goods required for Export Production is allowed Duty Free. The objective of the EPCG Scheme is to facilitate import of capital goods for producing quality goods and services and enhance India’s manufacturing competitiveness....

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Posted Under: DGFT |